Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car in over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his car business, and he took control than it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with only two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his attention to the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from firms he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business each time of austerity and rationing. For many purposes nokia's would be run as a single entity, but in a business operated by the man to whom delegation failed to come naturally the expansion of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production with the life of the organization. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and intelligent transmission, the company had trouble competing available. While larger companies similar to Opel and VW took benefit of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically handled as four tiny independent companies and do not implemented such basic expense reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after this creditors were paid fully, there was still 4. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared with Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's small business approach, and included many of the arguments later advanced to go into detail or justify the business's demise. The widest range associated with cars from any maker in Germany, produced by three until eventually recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Grades, placing the overall sales value from the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television reviews. Critical media commentaries also appeared concerning large loans on the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers within 1960 (and with the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by a North American slump widely used for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit score, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment the particular senators withdrew their assure. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to this senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s occupation. He had studied regulation at university and worked initially to be a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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